bank overdraft problem

Options
AyJay18
AyJay18 Posts: 21 Forumite
in Budgeting & bank accounts
natwest gave me a £1500 overdraft. withdrew it all in cash in the branch the day after it was applied for a downpayment on a dog. i received a text message to say that my account was in unarranged overdraft by £1500. i called them and they said it was revoked 24 hours after being applied as they can demand it repaid at anytime and didnt say why they got rid a day after. what a pi** take. what are my rights and do i have to repay in full now or do i have 30 days? women on the phone was rude and nasty.
«1

Comments

  • le_loup
    le_loup Posts: 4,047 Forumite
    Options
    Taking out an overdraft to buy a £1,500 dog shows a certain level of irresponsibility. Not surprised they changed their mind.
    Ever thought about a rescue dog for a few quid?
  • antrobus
    antrobus Posts: 17,386 Forumite
    Options
    Overdrafts are repayable on demand.

    Have you paid for the dog?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Name Dropper First Post First Anniversary
    Options
    le_loup wrote: »
    Taking out an overdraft to buy a £1,500 dog shows a certain level of irresponsibility.
    The £1,500 is a "down payment". OP hasn't said how much the dog is. :eek:

    Anyway, since OP has at least £3,758 in savings...

    https://forums.moneysavingexpert.com/showthread.php?p=74531437#post74531437

    ...there won't be a problem settling immediately, ie "on demand".


    (Round here the schools break up next week)
  • worried_jim
    worried_jim Posts: 11,631 Forumite
    Combo Breaker First Post
    Options
    Shaggy dog stories.
  • w06
    w06 Posts: 917 Forumite
    Options
    some of them broke up last week
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Name Dropper First Post First Anniversary
    Options
    Overdrafts are repayable on demand but in practise they will allow 30 days grace because they will be charging you for the privilege.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    Options
    AyJay18 wrote: »
    natwest gave me a £1500 overdraft. withdrew it all in cash in the branch the day after it was applied for a downpayment on a dog. i received a text message to say that my account was in unarranged overdraft by £1500. i called them and they said it was revoked 24 hours after being applied as they can demand it repaid at anytime and didnt say why they got rid a day after. what a pi** take. what are my rights and do i have to repay in full now or do i have 30 days? women on the phone was rude and nasty.

    Ride and nasty in what way ?

    Being honest, telling the truth ?

    What are your rights, you have a right to pay back the money, it should say in the documentation whether it's repaid in full now or within 30 days.
  • diggingdude
    diggingdude Posts: 2,445 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    How will you walk this dog with your injuries? https://forums.moneysavingexpert.com/showthread.php?t=5868573
    An answer isn't spam just because you don't like it......
  • Tallaght
    Tallaght Posts: 1,632 Forumite
    First Anniversary Combo Breaker First Post
    Options
    Nowadays a lot of banks have asked for overdrafts to be repaid in full ASAP.
  • worried_jim
    worried_jim Posts: 11,631 Forumite
    Combo Breaker First Post
    Options
    Tallaght wrote: »
    Nowadays a lot of banks have asked for overdrafts to be repaid in full ASAP.

    Especially the Monopoly bank. :rotfl:
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.5K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.6K Work, Benefits & Business
  • 608.5K Mortgages, Homes & Bills
  • 173.2K Life & Family
  • 248.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards